Author: Paul Kokuzian

S&P 500 E-mini Is pulling back from the bottom of the 2075-94 zone so this pullback is likely just technical. We remain bullish above support at 2042 . Use Pivots for intraday resistance and support.. Possible head and shoulders could be problematic for bulls.

S&P 500 E-mini Is pulling back from the bottom of the 2075-94 zone so this pullback is likely just technical. We remain bullish above support at 2042 . Use Pivots for intraday resistance and support.. Possible head and shoulders could be problematic for bulls.

Nasdaq-100 E-mini We favor bullish action above 44465 with intraday resistance now at 4520. Below 4465 would target 4429/4395. There is a possible head and shoulders forming that bulls should keep an eye on.

Russell 2000 E-mini We favor a further move higher above 1095 targeting 1113(hit)/1125. Below 1095 would negate the bullish bias and favor a further pullback into 1058/1041.

Euro FX has bounced off support at 1.0750-1.0860 and back into 1.1335 We will now look for rotational action between 1.0750 and 1.1335. A breach of secondary resistance at 1.1472 would favor another leg higher into 1.1718.

Wheat has been rejected at the 475’6 level and has traded back into support at 456’5, which if broken, favors a continuation lower into early March lows. Should 456’5 hold as support, it would favor a move back into 475’6-486’2 zone which should be a formidable area of resistance.

Crude Oil has pulled back from the 41.50-42.12 resistance zone as expected. Near-term support shifts higher to the 35.93-38.23 zone which is being tested. We favor further bullish action while above 38.23. We can expect the 41.50-44.76 area to be formidable resistance. A break above targets 48.29.

Soybean Oil has extended higher above trend line resistance therefore we expect this upside move to exhaust itself fairly soon with 32.40 shifting higher as support. A break back inside the channel would indicate a near-term top as well.